Global Waterborne - Hong Kong

Global waterborne freight market is essential for international trade, encompassing ocean and sea-based transport routes that move goods across continents and between countries. Ocean freight is the backbone of global logistics, offering a cost-efficient solution for long-distance trade. Container ships, bulk carriers, and tankers are integral to this system, providing high-capacity and reliable transport for a wide range of goods. These vessels navigate key maritime routes and strategic chokepoints, such as the Suez Canal, the Panama Canal, and the Strait of Malacca, which are crucial for global trade flows. The development of larger, more efficient ships and advancements in shipping technology have further enhanced the capability and reliability of waterborne freight services.

Waterborne freight often integrates with multimodal transportation networks, connecting seamlessly with road and rail to support the global supply chain. Major seaports serve as critical hubs for loading, unloading, and transshipment, enabling the efficient transfer of goods to their final destinations. This integration helps optimize logistics, reduces transportation costs, and enhances global connectivity.

From an environmental perspective, waterborne freight is considered one of the most sustainable modes of mass transportation. It generally has lower greenhouse gas emissions per ton-mile compared to road and air transport. The maritime industry is actively working towards reducing its carbon footprint by adopting cleaner fuels, improving vessel designs, and implementing slow steaming practices to reduce fuel consumption and emissions.

Investment in port infrastructure, including the expansion of container terminals, deepening of channels, and modernization of cargo handling equipment, is crucial to accommodate larger vessels and increase throughput capacity. Additionally, maintaining navigational safety and compliance with international regulatory frameworks, such as the International Maritime Organization (IMO) standards, are vital for promoting safe and environmentally responsible shipping practices.

As a vital component of the global economy, waterborne freight enables the efficient movement of goods across the world, supporting economic growth and global trade. By providing a reliable and cost-effective means of transporting a wide variety of cargoes, the global waterborne freight market continues to play a key role in the sustainable development of international commerce.

Data coverage:

The data encompasses B2B enterprises. Figures are based on the activities of the Global Waterborne freight market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting transportation activity due to the non-linear growth of this market

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.